Amalgamated Bank Sells 78 Shares of Globant S.A. (NYSE:GLOB)

Amalgamated Bank trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,637 shares of the information technology services provider’s stock after selling 78 shares during the quarter. Amalgamated Bank’s holdings in Globant were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in Globant in the 1st quarter worth $2,138,000. Vanguard Group Inc. lifted its stake in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares during the last quarter. Cetera Investment Advisers lifted its stake in Globant by 1,079.8% in the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after purchasing an additional 18,433 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Globant by 97.4% during the second quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock valued at $27,548,000 after acquiring an additional 76,256 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Globant during the second quarter valued at approximately $1,319,000. 91.60% of the stock is owned by institutional investors.

Globant Trading Down 11.1 %

Shares of GLOB stock opened at $203.29 on Friday. The company has a market capitalization of $8.76 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39. The firm has a fifty day simple moving average of $208.98 and a 200-day simple moving average of $191.01. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts predict that Globant S.A. will post 5.06 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Scotiabank boosted their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp upped their price objective on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $228.50.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.